California Public Employees Retirement System grew its stake in Ironwood Pharmaceuticals (NASDAQ:IRWD) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,317 shares of the biotechnology company’s stock after purchasing an additional 7,700 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Ironwood Pharmaceuticals worth $3,812,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in IRWD. Broderick Brian C grew its position in shares of Ironwood Pharmaceuticals by 237.1% in the fourth quarter. Broderick Brian C now owns 487,065 shares of the biotechnology company’s stock valued at $7,301,000 after purchasing an additional 342,589 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Ironwood Pharmaceuticals by 66.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 683,980 shares of the biotechnology company’s stock valued at $10,786,000 after purchasing an additional 272,287 shares during the period. Artal Group S.A. boosted its position in Ironwood Pharmaceuticals by 32.4% during the third quarter. Artal Group S.A. now owns 816,879 shares of the biotechnology company’s stock worth $12,882,000 after acquiring an additional 200,000 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Ironwood Pharmaceuticals by 17.7% during the third quarter. State of Wisconsin Investment Board now owns 731,000 shares of the biotechnology company’s stock worth $11,528,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its position in Ironwood Pharmaceuticals by 80.9% during the fourth quarter. Chicago Equity Partners LLC now owns 213,680 shares of the biotechnology company’s stock worth $3,203,000 after acquiring an additional 95,545 shares during the last quarter.
A number of research firms recently weighed in on IRWD. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Bank of America lowered shares of Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $20.00 to $15.00 in a research report on Friday, January 5th. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Finally, Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.29.
In other Ironwood Pharmaceuticals news, CFO Gina Consylman sold 3,594 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $14.66, for a total transaction of $52,688.04. Following the transaction, the chief financial officer now directly owns 59,125 shares of the company’s stock, valued at $866,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark G. Currie sold 60,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total transaction of $927,000.00. Following the transaction, the insider now directly owns 835,000 shares in the company, valued at $12,900,750. The disclosure for this sale can be found here. Insiders have sold 66,728 shares of company stock worth $1,024,732 over the last ninety days. 7.63% of the stock is owned by insiders.
IRWD stock traded down $0.43 during trading on Friday, reaching $14.36. 502,319 shares of the stock were exchanged, compared to its average volume of 1,031,793. The company has a debt-to-equity ratio of 40.25, a current ratio of 4.72 and a quick ratio of 4.71. Ironwood Pharmaceuticals has a 1 year low of $12.89 and a 1 year high of $19.94. The company has a market capitalization of $2,231.75, a PE ratio of -15.44 and a beta of 1.07.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Ironwood Pharmaceuticals had a negative net margin of 39.20% and a negative return on equity of 2,073.20%. The company had revenue of $94.20 million for the quarter, compared to the consensus estimate of $88.86 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. Ironwood Pharmaceuticals’s quarterly revenue was up 7.7% compared to the same quarter last year. sell-side analysts forecast that Ironwood Pharmaceuticals will post -0.46 EPS for the current year.
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Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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